The U.S. stock market sank from record heights as Wall Street sifted through mixed developments on everything from the U.S.-China trade war to profits for Big Tech behemoths.
The S&P 500 fell 1% Thursday and edged further from its all-time high set on Tuesday. The Dow Jones Industrial Average slipped 0.2%, and the Nasdaq composite dropped 1.6% from its record set the day before.
President Donald Trump hailed his much-anticipated talk with China’s leader, Xi Jinping, but major tensions remain between the world’s two largest economies. On Wall Street, Meta Platforms and Microsoft sank, while Alphabet climbed following its profit report.
On Thursday:
The S&P 500 fell 68.25 points, or 1%, to 6,822.34.
The Dow Jones Industrial Average fell 109.88 points, or 0.2%, to 47,522.12.
The Nasdaq composite fell 377.33 points, or 1.6%, to 23,581.14.
The Russell 2000 index of smaller companies fell 18.85 points, or 0.8%, to 2,465.94.
For the week:
The S&P 500 is up 30.65 points, or 0.5%.
The Dow is up 315 points, or 0.7%.
The Nasdaq is up 376.28 points, or 1.6%.
The Russell 2000 is down 47.52 points, or 1.9%.
For the year:
The S&P 500 is up 940.71 points, or 16%.
The Dow is up 4,977.90 points, or 11.7%.
The Nasdaq is up 4,270.35 points, or 22.1%.
The Russell 2000 is up 235.79 points, or 10.6%.